The government on Tuesday said it was not considering 100 per cent foreign direct investment in the pension sector.
The old tax regime remains unchanged. 'Taxpayers opting for it will continue to follow the existing slab rates and deductions.'
'The actions of Indian monetary authorities will depend on how quickly they want the inflation to come down to 4 per cent.'
The New Pension Scheme (NPS), launched by the government, was extended to all citizens of the country from May 1, 2009. Under the scheme, 50 per cent of the funds is allowed for investment in the stock markets.
Employees' Pension Scheme has been asked to fold up and hand over subscribers to National Pension System
A new kind of pension-cum-savings scheme is on the anvil, which would provide a safety net as well as liquidity to the holder.
'Some part could be used for consumption purposes, and the rest could be used to meet important financial goals.' 'The split can be 30:70 to 50:50, depending on one's situation.'
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Denmark has been rated as the country with the best retirement system in the world.
'Younger employees, who tend to have a higher risk appetite, will find NPS advantageous due to the potential gains from equity markets over time.'
Public sector entities Life Insurance Corporation, UTI AMC, State Bank of India and Punjab National Bank are among the front-runners to become pension fund managers under the new pension system.
State Bank of India, UTI AMC and Life Insurance Corporation will start investing the corpus of the new pension system (NPS), estimated around Rs 2,000 crore (Rs 20 billion) now, in market instruments including 15 per cent in equities from end-June 2008.
Under the NPS, every subscriber will have an individual pension account, which will be portable across job changes.
Seven public sector entities including the Life Insurance Corporation and State Bank of India on Friday submitted expressions of interest to the Pension Fund Regulatory and Development Authority
In 2023-2024, 95 scheduled commercial banks received over 10 million complaints from their customers. The process of KYC at many banks has become 'HYC' -- harass your customer, points out Tamal Bandyopadhyay.
Hailed as a revolutionary offering, the NPs has found few takers even after a year of its launch.
While mutual funds charge fees of 1-1.5 per cent of assets managed, that for pension funds could be a hundredth since the two investment streams are dramatically different.
Pension Fund Regulatory Development Authority rolled out the NPS for all citizens from May 1. Till July 31, only 1,109 forms were collected by the 22 points of presence appointed by the interim pension fund regulator. ICICI Prudential Pension Fund Management, which has 49 branches authorised by the PFRDA to act as points of presence, collected 218 forms, the highest among all 22 POPs.
If you work for 30 years, a two per cent difference in pension returns can reduce your final retirement nest egg by 40 per cent. The Rs 9-trillion National Pension System (NPS) seems to be delivering incrementally higher returns than the twice-as-large Employees' Provident Fund Organisation (EPFO), shows a Business Standard analysis of data over the last seven years for the two retirement fund bodies. An investor who put in Rs 100 in retirement savings seven years ago would have seen her NPS nest egg grow to Rs 182 by 2023, according to the analysis based on the Pension Fund Regulatory and Development Authority's recently released Handbook of National Pension System Statistics 2023.
The New Pension Scheme scores over several other retirement products in many ways, check out how and why.
The disbursement of pensions to 58,275 defence pensioners was delayed this month as their banks could not confirm their identification by April 30, the ministry of defence (MoD) said on Wednesday.
Citing evolving needs and aspirations of the citizens, he said that the civil service must adapt to contemporary challenges to remain relevant.
'It would be reasonable to assume that Modi 3.0 would be more focused on projects and schemes which do not require any legislative change or which have the support of its coalition partners,' asserts A K Bhattacharya.
He will succeed incumbent Rajiv Gauba, who completes his unprecedented five-year term in the top bureaucratic post this month-end.
Equity-focused schemes may perform better in a bull market, while debt-oriented ones may offer greater stability during volatile periods.
The eighth Budget of Finance Minister Nirmala Sitharaman continued to focus on 'GYAN' (Garib, Youth, Annadata, Nari) to maintain a consistent and coherent strategy initiated over the years in pursuing the government's vision for Viksit Bharat. The approach, characterised by incremental yet impactful steps, aims to create a compounding effect over time.
'He didn't implement good policies for good politics.' 'He never worked on comprehensive policy-making.' 'In Kejriwal's own constituency youths are jobless.'
The parents of Squadron Leader Abhimanyu Rai, an IAF pilot who died in a trainer jet crash in December 2023, have expressed their anguish over being ignored for entitlements and honours that were given to their daughter-in-law. They believe the government policy should be revised to include parents of martyred soldiers. Group Captain Amitabh Rai (retd) and his wife Chitralekha, the bereaved parents, say they have received no condolences from the government despite losing their only son. They argue that the current policy unfairly favors the martyr's wife, often leading to neglect of the parents. The Rais claim their son's death is not being recognized as a "battle casualty" and therefore he is not being treated as a martyr. They also raise concerns about the pressure on IAF trainers to complete training programs successfully, even when cadets are not prepared, potentially endangering both the trainer and the cadet.
We need to equip the Indian Armed Forces, not 'commercial' as Trump wants, but 'operationally' looking at growing Chinese military capabilities, asserts Lieutenant General Prakash Katoch (retd).
With short-term rates firming up due to tight liquidity conditions, Indian corporates are opting to borrow long term to take advantage of the attractive rates by locking them in these uncertain times. The banking system has a liquidity deficit of over Rs 2 trillion. According to market participants, engineering conglomerate Larsen & Toubro (L&T) raised Rs 1,500 crore through 10-year bonds in December 2024.
'PPF carries minimal risk.' 'Its fixed-income nature allows investors to diversify their portfolios.'
'Any earnings, regardless of location, will be subject to Indian income tax.'
'The adjustments (of tax slabs and standard deduction) will reduce the tax burden for salaried individuals with an income of around Rs 20 lakh by approximately Rs 18,000.' 'For non-salaried individuals with the same income level, the savings will be around Rs 10,000.'
The number of fresh formal jobs generated in a month increased to a seven-month high in April, signalling a recovery in the formal labour market in the country, according to the latest monthly payroll data released by the Employees' Provident Fund Organisation (EPFO) on Thursday. In April, the number of new monthly subscribers under the Employees' Provident Fund (EPF) sequentially increased by 18.77 per cent to 887,438 from 747,146 in March.
The report mentioned that the government spends 2.2 per cent of the GDP on pension bill.
'If you invest in a rush at the last moment, you could compromise on selecting the best tax-saving options.'
The state's economic health is in focus as it has consistently breached the fiscal deficit in eight of the last 10 years since Telangana's formation.
'When we say we want to increase pension participation, do we want to increase participation through the savings route?' 'Or do we want people to save in specific pension products?' asks Renuka Sane.
'This year overall hiring has seen a slight improvement as compared to the dip seen during the last financial year.'
The self-employed should invest in the National Pension System, a government-backed, low-cost retirement avenue where they can choose the mix of debt and equity that is right for them.
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